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Throwing money at it...

I heard this yesterday regarding competition between two organisations. These organisations compete for the same funding source and one already has more funding and is yet very aggressive in their approach to get even more funding still.

This is a very hot climate, a lot of competition and a very small market. The more affluent competitor has a strong brand and people know exactly what they do from their name. Both organisations are somewhat of a money pit, more money goes in than is realised in returns, so to keep their heads above water they need to convince the same market to fund them first.

Setting aside the fact that two very similar organisations in one small market would do best to amalgamate, and just going with the status quo, there is no benefit in complaining.

If you have two stallholders in one market place, each selling blue glass but one stall being able to spend more money on their stall looking fab and glossy and professional, it would be easy for the less spectacular stallholders to pout and throw their hands up and bemoan the fact that only a very small number of people collect blue glass items and they mostly go to the glossy stall first...

Should the stall which can afford a great banner, and helium balloons, and fancy stands for their displays of blue glass just tone it down a bit to give the other stall a chance?

Well, that would not be smart business, the business wouldn't be able to grow as well, the stall holders wouldn't be able to expand their business to offer their customers even better glass or a greater variety of objects. The customers would miss out both ways. While the second stall would grow a little bit, and the customers would be more evenly split between the two stalls, this might mean it would be the same old, same old glass. More stallholders would come along and the customers would be split again.

Whining doesn't get anyone anywhere, it is terrible business. Joining the stalls into one big stall would be ideal. In lieu of that, the smaller stallholder needs to think smarter.

So, if they can't afford a big ol' blingy stall, what can they work on? Maybe offering a more personalised product? Building reputation and creating repeat customers. Working just that little bit harder to spread the word about their products and creating more interest to grow the market stall and create loyalty with the new interested shoppers. There are many ways to think smarter.

Business is business and the bigger stall can't be expected to hold back because it 'isn't fair'. They want to be able to offer their customers the best products, for the benefit of the customers, and growing their business ensures that. It isn't about who has the most money to throw around. It's about who can offer more and better to their customer base and by better I don't mean bigger, I mean better in meeting the needs of the customer.

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